LLC Archives - USA Tax Help

2025 & 2024 MILEAGE RATES

Posted on December 29, 2024 (December 30, 2024) by LONYOUNG

2025 & 2024 MILEAGE RATES Standard mileage rates are used to calculate deductible vehicle operating costs for various purposes, including: Medical, moving, and charitable are unchanged from 2024. […]

2022 Long Term Capital Gain Rates

Posted on June 27, 2022 (November 16, 2022) by LONYOUNG

Tax is applicable on Long Term Capital Gains (LTCG) if your income (NOT INCLUDING LTCG NOR DIVIDENDS) exceeds Single $41,675 […]

Including Extensions

Posted on January 27, 2022 (December 15, 2022) by LONYOUNG

In reading code (if you ever try to read it you will know why it is called CODE) and regulations (U.S. Treasury Dept interpretation of the Code–this is what we think it means) you will find the term INCLUDING EXTENSIONS. This means INCLUDING A TIMELY FILED EXTENSION. […]

When is 28% bracket not 28%?

Posted on January 7, 2022 (December 2, 2022) by LONYOUNG

This is real from a 2014 tax question Question I had a 401K that I cashed in back in November. I paid 20% taxes on it when I did that. I received my 1099-R and while doing my taxes I entered that in and am now being charged another 30% in taxes. I have double […]

2021 Tax Law Change – Business Meals

Posted on January 4, 2022 (November 16, 2022) by LONYOUNG

Business Meals are now 100% deductible. […]

2022 Vehicle Mileage Rates

Posted on December 23, 2021 (November 16, 2022) by LONYOUNG

For 2022, the standard mileage rates for cars, vans, pickups or panel trucks) is 58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021, 18 cents per mile driven for medical, or moving purposes for qualified active-duty members of the Armed Forces, up 2 cents from the rate for […]